Bangkok--Jan 26--Bangkok Bank
Bangkok Bank began selling its sixth fixed-income mutual fund ‘Bualuang Thanarat 2/50’ at branches nationwide from today. The fund is the second to be issued by Bangkok Bank in January and follows unprecedented customer demand for secure investments and higher returns than deposit interest rates.
Bualuang Thanarat 2/50 is an open-ended mutual fund with a lifespan of 11-12 months and will mature in February 2007. The fund will automatically redeem investment units twice, with the first redemption scheduled for the first six months and the second when the fund matures. It will redeem the investment units at a minimum rate of 3.9 percent per annum. Investors will receive their investments back via automatic redemption without having to pay any tax.
The Bualuang Thanarat 2/50 mutual fund offers Baht 3.0 billion of investment units and has been registered with the Securities and Exchange Commission (SEC). The fund can be extended by 15 percent, or Baht 450 million, if it receives strong interest from investors.
Bangkok Bank Senior Vice President Suyanee Puripanyawanich said the Bank had sold five Bualuang Thanarat mutual funds with a combined value of Baht 29.7 billion since September 2005. The last fund was issued on January 10.
“Bualuang Thanarat mutual funds have consistently sold-out because they meet investor demand for secure short-term investments with better returns than deposit rates. The subscription of every Bualuang Thanarat mutual fund has exceeded the size registered with SEC and the funds have had to be sold out using additional greenshoe units.
The Bualuang Thanarat 2/50 mutual fund is managed by BBL Asset Management (BBLAM). The fund invests in debt instruments issued by the Government, such as treasury bills, government bonds, or debt instruments issued or guaranteed by the Financial Institutions Development Fund and also holds some of its assets in deposits.
For more information about the Bualuang Thanarat 2/50 mutual fund, please call Bualuang Phone on 1333, or BBLAM on 0-2679-6400.
Note: Investments in mutual fund carry certain risks. Investors are advised to study information about the fund before deciding to invest. End.